Key Elements of SMS Notifications for Newly Updated Mada Transactions

1
Abdulaziz T. Alotaibi
From: Payment Policy
Sent: Thursday, October 14, 2021 2:27 PM Cc: Husam A. AlMahmoud; Dr. Yazeed Aleissa; Payment Policy

Subject: Circular
Attachments: SMS - Format - ECOM-Retail.pdf Categories: Blue Category

Gentlemen,
Peace be upon you,

Saudi Central Bank Circular No. (Idrak 42023876) dated 14/04/1442 AH, addressed to financial institution clients, aims to standardize the elements of financial SMS notifications. This initiative seeks to enhance customer awareness regarding transactions executed on their accounts, memberships, and electronic wallets, through the notifications sent to them. For these transactions, and given certain newly introduced operations following Mada operations, the basic elements of SMS notifications are attached. Accordingly, financial institutions must send their respective notifications with a maximum delay before the end of the first quarter of 2022.

For your information and action, please provide the Saudi Central Bank with your implementation plan before the end of business day 4 November 2021, via the following email: (SA.GOV.SAMA@aalshuwaier). In case of any inquiries, you may contact Mr. Meshal Abdulwahab via extension number (3943), or through the following email address: (sa.gov.sama@malabdulwahab).

Yours sincerely,
W.SAMA.GOV.SA